Aditya Birla Renewables Ltd (ABRen) has secured a sole-underwritten $1.6 billion term loan facility from MUFG to acquire Solenergi Power Pvt Ltd (SPPL).
As per a statement by MUFG, MUFG acted as mandated lead arranger, underwriter and bookrunner for the transaction involving the acquisition of SPPL, which comprises the Sprng Energy group of companies. The deal provides a major addition to ABRen's portfolio and boosts its growth into becoming one of the biggest clean energy players in the country.
The recent announcement came amid the July 2026 definitive agreement signed between ABRen, a subsidiary of Grasim Industries Ltd and Sprng Energy Pvt Ltd.
According to the agreement, ABRen will take over 100 percent equity stake and securities in SPPL. Additionally, the ₹17,200 crore transaction will provide ABRen a combined renewable energy portfolio of 9.3 GWp.
The acquisition provides a major growth in ABRen’s renewable energy ambitions through the
integration of its strong presence in the Commercial & Industrial (C&I) segment and Sprng
Energy’s complementary utility-scale platform. The transaction will potentially close by the end of 2026 after receiving regulatory approvals and meeting other required conditions. The transaction will potentially close by the end of 2026 after receiving regulatory approvals and meeting other required conditions.
